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Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, including inquiries of company's management. If the financial statements or supporting information require further inquiry, we may perform additional procedures.
A review doesn't require a evaluation of the company's internal controls or verification of data with third parties or inspection of assets. Rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.
Why might a business request a review engagement? It is the assurance provided by a C.P.A.'s technical expertise without the expense of an audit until one is required by specific circumstances.
Understanding each report's unique strengths and weaknesses can help you choose the most appropriate one. Please call if you have questions about which type of report is right for you. | 
